T 2025 Legislative Session SUMMARY BY DAX DENTON & ROSS TEARE, INDIANA BANKERS ASSOCIATION The Indiana General Assembly concluded its work for the 2025 regular legislative session in the early morning hours of Friday, April 25, adjourning sine die just before 2 a.m. As is customary in a biennial budget year, the long session afforded lawmakers additional time to finalize fiscal priorities and consider a broad range of policy proposals. Although scheduled to run through April 29, legislators completed their work several days early despite the fast pace and the introduction of more than 1,200 bills. The session marked the beginning of a new chapter in state government under Gov. Mike Braun and featured major legislative activity focused on tax relief, fiscal reform and financial regulation. The session’s signature achievements came with the passage of House Enrolled Act 1001, Indiana’s biennial budget; and Senate Enrolled Act 1, a comprehensive property tax relief package. Touted by Gov. Braun as historic, SEA 1 delivers between $1.2 and $1.3 billion in tax cuts for Hoosiers, including a 10% property tax credit for homeowners capped at $300, enhanced relief for seniors and veterans, a phaseout of the business personal property tax for most businesses and revisions to farmland valuation formulas to ease burdens on farmers. These measures reflect the Braun administration’s and General Assembly leadership’s shared emphasis on fiscal restraint, taxpayer relief and government accountability. Gov. Braun, who succeeded Eric Holcomb, brought a business-oriented approach to the office, emphasizing fiscal discipline and healthcare reform. His active engagement throughout the session marked a return to a leadership style reminiscent of former Gov. Mitch Daniels. A late-session revenue forecast projecting a $2.4 billion shortfall for FY 2026-27 forced Braun and legislative leaders to revise budget plans in the final days, reducing or eliminating proposed spending increases and shelving several tax credits to ensure a balanced budget. Several Braun-backed healthcare proposals were also scaled back amid industry resistance, signaling more work to come in 2026. The governor still called the session productive and indicated that outstanding priorities, including additional property tax reform and healthcare pricing transparency, would return next year. In total, 1,229 bills were introduced, significantly more than the 739 filed in the 2024 short session. Of those, 244 were enacted, including 140 House Enrolled Acts and 104 Senate Enrolled Acts. The overall 20% passage rate was slightly lower than in the previous budget cycle, highlighting the complex nature of the session as lawmakers adjusted to new leadership and competing fiscal pressures. Against the backdrop of a demanding session, your Indiana Bankers Association achieved multiple legislative successes. The IBA’s efforts focused on modernizing state financial statutes, enhancing oversight and defending the industry from problematic proposals. One of the IBA’s top accomplishments this session was the establishment of a formal oversight board for TrustINdiana, the state’s local government investment pool. Language creating the Indiana Local Government Investment Pool Board was included in both the biennial budget (HEA 1001) and follow-up legislation (HEA 1427). The board will be responsible for setting investment policies and providing oversight of the Treasurer of State’s management of the pool. Under the new law, the Treasurer must operate the pool in accordance with the Board’s policies and obtain Board approval before hiring external investment managers, legal counsel or other professionals. This IBA-supported reform strengthens GR SUMMIT By the Numbers 1,229 bills introduced ▶ 66.31% more than the 2024 short session ▶ 5.77% more than the 2023 budget session 244 bills passed ▶ 140 House Enrolled Acts ▶ 104 Senate Enrolled Acts 19.85% passage rate 22 HOOSIERBANKER
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